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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Glyoxylic Acid market for 2018-2023.
Glyoxylic acid or oxoacetic acid is an organic compound that is both an aldehyde and a carboxylic acid. Glyoxylic acid is a liquid and is an intermediate of the glyoxylate cycle, which enables certain organisms to convert fatty acids into carbohydrates.
Glyoxylic acid, a colorless to yellowish liquid, has wide applications, such as: as key intermediate in the pharma or agro industries, flavors and fragrances, dyestuff and fine chemicals, cosmetics as in hair straightening formulations. It can be manufactured industrially by nitric acid oxidation of glyoxal, and was also manufactured by oxidative cleaveage of maleic acid methyl ester by ozone, or manufactured through electroreduction of oxalic acid. For the most manufacturers of glyoxylic acid, nitric acid oxidation of glyoxal is the preferred manufacturing method.
Europe and China are major production bases of glyoxylic acid for the time being. Moreover, China is the largest producer of glyoxylic acid, accounting for 88.57% market share in 2015.
Aromas is the largest consumer of glyoxylic acid. Glyoxylic acid, acts as an intermediate, is usually used to produce vanillin, atenolol, DL-p-hydroxyphenylglycine, DL-p-hydroxyphenylhydantoin. Also, glyoxylic acid is the raw material source of allantoin. Taking vanillin as example, vanillin is mainly used as a flavouring agent, primarily in foods and beverages such as chocolate and dairy products, but also to mask unpleasant tastes in medicines or livestock fodder. It is also an intermediate in the manufacture of certain pharmaceuticals and agrochemicals.
The top three suppliers of glyoxylic acid, Hubei Hongyuan, Zhonglan Industry, Zhonghua Chemical, all locate in China, contributing about 49.64% sales market share in 2015. Global total consumption of glyoxylic acid was 122305 MT in 2015, increasing slightly from 118789 MT in 2011. According to insiders of glyoxylic acid, the market is not promising for the time being, considering the downstream demand.
Over the next five years, LPI(LP Information) projects that Glyoxylic Acid will register a xx% CAGR in terms of revenue, reach US$ xx million by 2023, from US$ xx million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Glyoxylic Acid market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- Glyoxylic Acid 50%
- Glyoxylic Acid 40%
Segmentation by application:
- Pharmaceutical Industry
This report also splits the market by region:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- Hubei Hongyuan
- Zhonglan Industry
- Zhonghua Chemical
- Yuandong Chem
- Hubei Shunhui Bio-Technology
- Guangdong Hongyuan New Material
- Yongfei Chem
- Shijiazhuang Haosheng Chemical
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Glyoxylic Acid consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Glyoxylic Acid market by identifying its various subsegments.
- Focuses on the key global Glyoxylic Acid manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Glyoxylic Acid with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Glyoxylic Acid submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.